Brookfield Asset Management (TSE:BAM) Stock Price Breaks Above 200-Day Moving Average – What’s Next?

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$66.43 and traded as high as C$68.34. Brookfield Asset Management shares last traded at C$67.93, with a volume of 1,091,418 shares.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upgraded Brookfield Asset Management to a “strong-buy” rating in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$75.00.

Brookfield Asset Management Price Performance

The firm has a market capitalization of C$107.77 billion, a P/E ratio of 38.78, a P/E/G ratio of 0.43 and a beta of 1.54. The stock’s 50 day simple moving average is C$66.13 and its 200 day simple moving average is C$66.39. The company has a debt-to-equity ratio of 54.43, a quick ratio of 0.95 and a current ratio of 2.97.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, energy, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world – including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.